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Note 15 - Leases

12 Months Ended

Dec. 31, 2021

15	Leases

Leases as lessee

The Group leases administrative offices. The leases, which the Group normally enters into, typically run for a period of 3 to 6 years, with an option to renew the lease after that date. Two leases for the administrative offices expire in 2024 and one lease in 2025.

Information about leases for which the Group is a lessee is presented below.

i)	Amounts recognised in the statement of financial position

Right of use assets

Right of use assets related to leased properties are presented as part of property, plant and equipment (refer note 18).

	2021			2020

Balance at January 1		229			337
Depreciation		(115	)		(99	)
Additions to right of use assets		527			-
Derecognition of right of use assets		(172	)		-
Foreign currency movement		(22	)		(9	)
Balance at December 31		447			229

Lease liabilities

	2021			2020

Balance at January 1		239			349
Additions to lease liability		527			-
Finance cost		24			15
Lease payments		(129	)		(118	)
Foreign currency movement		(23	)		(7	)
Derecognition of lease liability		(173	)		-
Balance at December 31		465			239

ii)

Amounts recognised in profit or loss

	2021		2020			2019

Finance cost on lease liabilities		24		15			17
Unrealised foreign exchange gain		1		(2	)		4
Depreciation		115		99			112
		140		112			133

iii)

Amounts recognised in statement of cash flows

	2021			2020			2019

Total cash outflow for leases - principal		129			118			124
Total cash outflow for leases - finance cost		(24	)		(15	)		(17	)

iv)

Lease payments

Lease payments payable on leases of right of use assets are as follows:

	2021		2020

Less than one year		158		61
One to two years		165		46
Two to three years		163		46
Three to four years		46		46
Four to five years		–		40
		532		239